Stairlifts Rental Market Size, Share, Growth, and Industry Analysis, By Type (Completely New & Reconditioned), By Application (People With Disabilities, Old People & Sick Person), and Regional Forecast to 2032

STAIRLIFTS RENTAL MARKET OVERVIEW

The global Stairlifts Rental market size was USD 168 million in 2023 and is projected to touch USD 294.76 million by 2032, exhibiting a CAGR of 5.7% during the forecast period.

Stairlifts Rental Market caters for the stairlift needs of people who need mobility assistance for a shorter time without having to go through the strenuous and time-consuming process of purchasing. Occupational market’ clients are those who require equipment for short-term use, for instance, during a recovery period from an injury or in cases of temporarily housing. Stairlift rentals are complete with installation and maintenance services; hence, they can be preferred by the users. The market is expanding because of the rising elderly population and higher expectations for health care.

GLOBAL CRISES IMPACTING STAIRLIFTS RENTAL MARKETCOVID-19 IMPACT

Stairlifts Rental Industry Had a Positive Effect Due to Increased Demand for Home Healthcare Solutions during COVID-19 Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 had a positive effect on the staircase rental market as more needed healthcare, especially for the older patients and patients who needed to recover. As hospitals could not accommodate the volume as more and more people looked to home-based solutions, the need for stairlift rentals increased. The market expanded as people started focusing on the accessibility and safety of modifications at homes, which resulted in the temporary rental market for better accessibility and affordable rates.

LATEST TREND

"Short-term rentals, customization, and online services drive market growth"

A new emerging trend in the stairs rental market is short-term requirements, which include situations like post-surgery mobility use of stairs. Further, new folds and a greater level of customization, both in the form of foldable designs and the capacity of the battery, are becoming trends. Availability has also become easier for the consumers through more and more development in online rental services.

STAIRLIFTS RENTAL MARKET SEGMENTATION

BY TYPE

Based on Type, the global market can be categorized into Completely New & Reconditioned

• Completely New: Perhaps the most obvious reason to opt for completely new stairlifts is that this way people will be able to get the most up-to-date equipment that boasts the newest technological solutions that can make users’ stay more comfortable as well as ensure their safety. These models have manufacturer warranties and are built to order to fit various stair designs. If that is the case, reconditioned stair lifts cost less to rent as compared to brand new ones because they are new and have unique features.
• Reconditioned: Used stair lifts are ones that have been sold and bought before then reconditioned to function as new ones in the market. Such cars are cheaper to rent, and still, they will come with dependability as well as safety features. While these may not have the new technology, reconditioned stairlifts are useful for people looking for cheap solutions.

BY APPLICATION

Based on application, the global market can be categorized into People With Disabilities, Old People & Sick Person

• People with disabilities: Stairlifts for hire to the disabled are important since they enable disabled people to move within homes with stairs easily. These stairlifts come in handy when a single is faced with certain physical conditions to help in the improvement of his or her independence and safety. The increase in demand for the services guarantees that there shall be specialized care for various types of disabilities.
• Old People: Property owners must lease stairlifts to the elderly and disabled, as it works as a safety measure since it presents the safest means of getting up and down the stairs. With many countries experiencing the effects of an aging population, the need for accessing affordable, reliable rental of stair lifts is also expected to grow. This segment considers the convenience and practicality of the product, thus improving the quality of life of senior citizens.
• Sick Person: For both the elderly and disabled people who have undergone surgery or are experiencing some illness, stairlift rentals allow the purchases of wheelchairs or other mobility products for only a short time. These stairlifts enable patients to obtain access to the upper floors within no time and with no strain, even when recovering from their ailments. Short-term rentals are thus preferred for medical needs that will only require a short time to be in the city.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.                          

DRIVING FACTOR

"Aging population drives Market growth through increased demand"

An increasing aging population in the world has led to high demand for rental services of stair lifts since elderly individuals are more likely to experience mobility problems. Stair lifts are considerably beneficial in such a case, as they enable them to move up and down the staircase safely and to different floors of the house. The increasing need for temporary and cheap accommodation increases the Stairlifts Rental Market Growth.

"Temporary disabilities drive short-term Market growth"

People with temporary disability or recovering from a surgical operation are the ones who need the stairlift, and this is why they require it on a rental basis. Most people prefer renting the stairlifts, especially when their disability is going to be permanent but their mobility is usually only temporarily affected. This in turn creates a demand for short-term rental services for people with changing health conditions.

RESTRAINING FACTOR

"High maintenance costs restrict Market growth"

Several factors can be said to restrain the stairlift rental market, including parts maintenance and repair costs. Rental providers must constantly maintain the equipment for them to be safe and to function well; this results in high operating costs. These costs are however capable of reducing profit levels as well as the rate of growth of the market.

OPPORTUNITY

"Aging population drives Market growth due to demand"

The continuously aging population in every country across the world is thus one of the biggest opportunities for growth in the stairlift rental market. This is especially true today, where many elderly people would rather remain in their homes as long as possible, thus the need for devices such as a stairlift. Regarding cost, renting is cheap and thus a viable option for most families that seek housing for limited periods of time.

CHALLENGE

"High maintenance costs for product challenge market growth and stability"

This is a huge problem for the stairlift rental market because the constant servicing adds to the total costs of the equipment. Inefficient operational expenses cause high accidents or frequent repairs and breakdowns that increase the costs of operation for rental companies. Such expenditures put pressure on the ability to set a realistic rental price while at the same time being financially stable.

STAIRLIFTS RENTAL MARKET REGIONAL INSIGHTS

• NORTH AMERICA

North America's aging population and healthcare boost market growth

North America holds the largest Stairlifts Rental Market Share because of factors like the increasing elderly population and developed health care facilities. The US also has a major influence on market growth through sound healthcare systems and an increasingly aging population. The United States Stairlift Rental Market has good choices for renting and also regional players improving accessibility of services and quality.

• EUROPE

Europe's aging population and healthcare policies drive market growth

Europe has a significant role in the staircase rental market, owing to the sound healthcare policies in the region and the increasing number of geriatrics who require mobility solutions. There is a trend of enhancing accessibility in various countries, especially the European ones, thus driving the market’s growth. Besides, the local programs and subsidies for alteration in homes contribute towards the rental market.

• ASIA

Asia's urbanization and aging population drive market growth

Asia’s stairlift rental market is progressing steadily, driven by factors such as rapid urbanization and an elderly population in need of home mobility solutions. Increasing global health consciousness and advanced infrastructure for rendering healthcare services also fuel market expansion, especially in the case of the emerging giant economies like China and India. Also, the factors that enhance the rental of stairlifts include a rise in disposable income and an improved standard of living.

KEY INDUSTRY PLAYERS

"Industry leaders drive market growth through innovation and partnerships"

Industry leaders are promoting the growth of the stairs rental market through value additions such as increased product ranges and better customer experiences. They major on creating highly sophisticated, easily operable stair lifts and diversification in rental services, such as here. These consequently enhance market presence and accessibility through investments in technology and strategic partnerships that arise from increased demand for mobility solutions.

LIST OF TOP STAIRLIFTS RENTAL COMPANIES

• Lifeway Mobility (U.S.)
• Stannah (U.K.)
• Easystep Stairlifts (U.K.)
• Central Mobility (U.S.)
• Obam Stairlifts (U.K.)
• HME (U.S.)
• Ableworld (U.K.)

KEY INDUSTRY DEVELOPMENT

November, 2023: Stannah Stairlifts has revealed the newly developed stairlift rental, which is intended to provide temporary means of mobility to people with such issues. The rental option basically offers an inexpensive solution where a client does not need to have a stair lift permanently fixed at their home.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.